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People & Business :: Companies
Dow Corning's Income Falls on Higher Costs
7:12 AM MDT | August 2, 2011 | Nancy Seewald
Dow Corning reported net income of $191 million in the second quarter, down 14% from the same period last year. The company cites “sharp increases” in raw material and energy prices, higher operating costs, and slower global economic growth compounded by Japan’s tsunami and earthquake, as well as unrest in the Mideast. Sales rose 8%, to $1.67 billion, as “significant demand growth” continued in Asia, Latin America, Eastern Europe, and other developing regions. “While demand remains solid for Dow Corning’s...
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